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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Allan Harris who wrote (6062)6/20/1999 3:54:00 PM
From: Ian@SI  Read Replies (1) of 15132
 
Allan,

I suspect that we've heard most of what we're going to from the Y2K doomsayers.

1. Y2K is less than 6 months away. We'll remember who the buffoons are.

2. It's almost always the unanticipated stuff that kills you. The media has been hyping Y2K for about 3-4 years; and IT has been addressing the concern in dribs and drabs for over a decade. In the last couple years, IT shops have had Y2K as a top priority assignment for mission critical applications.

Re SCH taking a 40% haircut. Check the whole health sector. Money has been rotating out of it for at least the past 4 months. The sector rotation game has been going on as long as I can remember regardless of bull or bear market overall.

Rather than skepticism, I just see this as a normal healthy market. If a sector disappoints, it gets creamed. This, IMO, has done an outstanding job of preventing the bubble that Fleckenstein sees; and that our best friend, Mr G, now says he is apprehensive about.

FWIW,
Ian.
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